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Indian economy to grow in next 12 months: PwC survey
The survey underscores India's resurgence as an attractive investment destination
The survey indicates a notable surge in confidence among Indian leaders / Image - iStock
Global business leaders have expressed optimism about the improvement of the Indian economy in the coming 12 months according to PwC's 27th annual Global CEO survey.
The survey saw the participation of 4,702 CEOs from 105 countries and territories, including responses from 79 India-based CEOs.
As per the findings, there is a notable surge in confidence among Indian leaders in the country’s economic growth, which has witnessed a nearly 30 percent rise over the past year. In contrast, global leaders exhibit a more measured outlook, with 44 percent of CEOs worldwide expressing belief in an improvement in their respective territories' economies.
The CEO Survey underscores India's resurgence as an attractive investment destination, claiming the fifth position globally. This represents a significant improvement from the ninth position it held in 2023.
As many as 62 percent of Indian CEOs expressed extreme or very high confidence in India’s potential for higher economic growth. 70 percent of Indian CEOs are confident in their company's revenue growth prospects over the next three years, surpassing the 49 percent of global CEOs holding a similar view.
Despite the prevailing confidence among Indian CEOs, there is acknowledgment of the imperative to adapt to change and keep pace with future trends. About 59 percent of Indian CEOs believe that their companies would remain economically viable for more than 10 years if they continue on their current trajectory, slightly higher than the 53 percent of global CEOs who share this sentiment.
However, 38 percent of Indian CEOs expressed a shorter-term perspective, stating that their companies would remain economically viable for less than 10 years under the current trajectory.
“Despite continuing global headwinds, the Indian economy has remained resilient with expectations of a strong growth trajectory shortly,” Sanjeev Krishan, the chairperson of PwC in India, said.
According to Krishnan Indian execeutives will have to develop a strategy to tackle barriers such as regulatory constraints and lack of tech capabilities to “turn them into growth opportunities which will create lasting value for businesses, society and the environment.”
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